S&P says climate change will affect sovereign ratings

Standard & Poor’s is warning that climate change is going to put downward pressure on sovereign ratings, and is already ranking countries based on their exposure to the risks.

Emerging markets are among the most vulnerable, with Cambodia, Vietnam, Bangladesh and Senegal at the bottom of the ranking; developed markets are among the least vulnerable, with Luxembourg, Switzerland and Austria at the top. Canada is ranked No. 13 among 116 countries.